In a tit-for-tat move that came a week after the CGTN (China Global Television Network)’s license revoked by the UK, China now banned BBC World News excluding from its list of television networks allowed to be broadcasted. The BBC claims that this move by China is “an unacceptable curtailing of media freedom”.

Media critics also claim that this move from China is also because of the BBC’s report on systematic rape and sexual abuse against women in internment camps for ethnic Uighurs and other Muslims in China’s Xinjiang region.

British Foreign Minister Dominic Raab said: “China has some of the most severe restrictions on media and internet freedoms across the globe, and this latest step will only damage China’s reputation in the eyes of the world.” The Chinese embassy in London responded with a stinging statement, attributed to an unnamed spokesperson: “BBC’s relentless fabrication of ‘lies of the century’ in reporting China runs counter to the professional ethics of journalism, and reeks of double standards and ideological bias.”

“The so-called ‘media freedom’ is nothing but a pretext and disguise to churn out disinformation and slanders against other countries,” it said.

Reacting to the development, US State Department spokesman Ned Price said it was “troubling that as (China) restricts outlets and platforms from operating freely in China, Beijing’s leaders use free and open media environments overseas to promote misinformation”.

‘Bounce Back’ Loans In the U.K To Back Small Scale Business!

April 2020

The government of the U.K has brought in a ‘bounce back’ loan scheme to back small scale businesses in the country.

The official statement was stated by Chancellor Rishi Sunak and Tory stated that it is the current move to protect the economy and employees from the COIVID-19 lockdown.

This has emerged after it the British government was slammed for being sluggish in supporting the firms.

Despite, Rishi earlier last week stated that 80% of guarantee on the current loans will be enough than offering it 100%.

But how to get benefited from these loans! Well, here’s a few basic criteria’s listed:

Now which has changed?

As of now the current loan system in Coronavirus Business Interruption Loans (CBIL) about £5m is provided to small scale industries that have only a meager profit.

But sadly only 80% is supported by the government as companies were alleging that they are finding it difficult to get loans from financial firms.

But now Rishi has come up with another loan scheme that will cater 100% guarantee but for only £50,000.

Need for New Scheme

Reports say that it had differed by one scale and CBILS are quite expensive and providing £5million with 100% would have been quite a lot. Besides, yet another issue was the quick discharge of cash as a smaller amount can be easy to credit.

The function of the New Scheme

Small scale firms can get from £2,000 and £50,000 with the hazard underwritten by the government.

The ultimate goal is to cater quick cash to these small scale sectors that have been facing issues to get bigger amounts.

Speaking on this Rishi said: “Businesses will be able to apply for these new bounce back loans for 25% of their turnover up to a maximum of £50,000.”

Further, the government will cover for the initial year and from the following year, the companies have to pay back for 5 years.

Once applied the loans will be processed and received within a day’s time.